In today's society, inflation can happen at any time. A lot of people are panicking and more and more people are looking to invest in some stablecoins. Therefore, to meet people's needs, more and more cryptocurrencies are born with smart features that bring many benefits to users. If you are one of the participants in the crypto market then you probably know that DeFiFarms is a recently launched project and it is an optimized dedicated blockchain, created especially for applications. Using DeFi and NFT
NFT is calculated as one of the important values of the new digital economy created by Blockchain. There are many projects that are using NFT for a variety of applications, such as games, digital identities, licenses, certificates, and artwork. Including high value items, NFT can even allow users to have a percentage of ownership.
Seizing that opportunity, DeFiFarms is produced as one of the first NFTs Protocols Profit Farms gain strong automatic liquidity and AMM decentralized exchange running on Binance Smart Chain
The DeFiFarms protocol was the first non-fungible protocol to introduce the concept of stock trading over NFT, making it unique. Based on the ERC-721 protocol distributed on the public Binance Smart Chain, it provides a safer, faster and cheaper transaction process. ... Users can sell their unique NFTs for rewards in the market or go through a staking process to burn their NFTs for a more flexible process. Everyone's rates will be stored in the metadata that exists in each shared asset on the network, allowing rewards to be accrued in real time and transparently. This also minimizes damage from market volatility and simplifies the exchange process without the need to encapsulate protocol swaps.https://defifarms.org/documents/Defifarms_Whitepaper.pdf
DeFiFarms helps users staking and lending crypto assets thus generating great rewards when different cryptocurrencies are added to their balance. The profit farming part of the DeFiFarms project helps to incentivize liquidity providers, lock up their tokens and gain from the distribution of profits obtained through the efficient management of smart contracts by the team Liquidity.
“By using NFT, DeFiFarms allows for more dynamic stakes. Instead of the stake being tied to a user's wallet address, it is linked to a transferable, NFT proof of ownership,” the DeFiFarms developers explained. “Meaning, when you become a Liquidity Provider and stake your tokens, you not only earn rewards, but you also get NFTs of equivalent value called NFT Farming.”
Rewards obtained from DeFiFarms will be based on earnings from bounty reward pools, liquidity pools sponsored by DeFiFarms finance or other institutions. Farming DeFi Yield allows crypto holders to lock in their holdings while expecting well-deserved rewards. Moreover, it helps users to earn a fixed or variable return while investing their crypto in the DeFi market. In other words, the cryptocurrency lends itself to enhancing productivity with the backing of the BSC network. In the traditional banking system, when funds are lent, they are paid back with interest. The idea is similar to crypto-related yield farming. A certain amount is lent with the support of the DeFi protocol instead of being stored in a specific wallet for a refund.
Features of DeFiFarm Ecosystem
- (a) DeFiFarm AMM :
DeFiFarms has developed Automated Market Making decentralized trading platform that will allow users to swap their various crypto assets with the use of (AMM) model.
- (b) Staking and Liquidity Providing :
Users will be able to stake their token for profits. It also allows create a good income stream for Liquidity provider. It will allow them earn transaction fees based on the volume of liquidity provided ,it allow them farm NFTs that can be traded in at the market price in a high liquidity exchange . Users can stake varieties of token to farm DEFIY in the platform .
- (c) NFT Farming :
DeFiFarms will change how we stake and earn , it wil enable dynamism in staking system , It will like staked directly to the proof of ownership transferable NFTs instead of the stake being linked to the users wallet address . This simply means if a user become a Liquidity Provider and stake their tokens , they only earn rewards by receiving NFTs which is equivalent in value , It means staking DEFIY will earn users NFTs which can be sold directly without unstaking their DEFIY. By doing this , user is farming NFT.
DeFiFarm has added some features which has never existed before. They have created a possibility for Farmers and Liquidity providers (LP) to move around their locked values of the liquidity provided. When users stake their DEFIY/BNB liquidity tokens in the platform , the LP token are being locked in the staking contracts while the value is not locked . DeFiFarm protocol allows minting of NFT whenever staking takes place , this will wrap the value locked in staking contract and make it transferable in ECR721 NFT
Conclude :
In a nutshell, DeDiFarms' mission is to provide developers with a multifunctional native token and AMM Swap, making it a new multifunctional financial ecosystem. The technology uses NFTs to wrap their holdings, allowing users to burn or sell them through their marketplace. This is a great innovation with a growing trend and high acceptance. Join the private sale whitelist now
Join the DeFiFarms Active Community that i will write down below for more updates.
⦁ Website: https://defifarms.org
⦁ Twitter: https://twitter.com/DeFiFarmNFTs
⦁ Telegram: https://t.me/DefifarmsNFT
⦁https://www.reddit.com/r/DeFiFarms/
⦁ Github: https://github.com/defifarms
Contract : https://bscscan.com/token/0x2307DfB065CF1c9c5bC0f3435b49830C0AB86847
⦁ author : Hidemail
⦁ Profile : https://bitcointalk.org/index.php?action=profile;u=2805354
⦁ Wallet : 0x2FC48a6E304B7B5f229c094167dd41F5b1660f42
A good project, you can try it for beginners.
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Good work and the project team is fine, check those docs
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Honestly, I didn't know anything about DeFiFarms before. It is attractive.
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An interesting combination for those just starting to master the unusual world of cryptocurrencies.
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NFT and Defi a perfect combination
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they seriously approach the creation of this platform, at first glance it seems to me some kind of exaggeration. And they have been on the market for a long time. And they poured a lot of money into their platform
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For general development, it is necessary to study this topic. I'd love to create my own token and try to list it on an exchange, but it's not so easy for me.
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I don't really like crypto, but I love the site! I will definitely go.
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